Arrowstreet Capital Limited Partnership Raises Stake in STMicroelectronics (NYSE:STM)

Arrowstreet Capital Limited Partnership increased its stake in STMicroelectronics (NYSE:STM) by 576.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,920,774 shares of the semiconductor producer’s stock after buying an additional 1,636,707 shares during the period. Arrowstreet Capital Limited Partnership owned 0.21% of STMicroelectronics worth $47,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of STMicroelectronics by 81.4% during the fourth quarter. GAMMA Investing LLC now owns 1,183 shares of the semiconductor producer’s stock worth $30,000 after acquiring an additional 531 shares during the period. Newbridge Financial Services Group Inc. bought a new position in STMicroelectronics in the fourth quarter worth approximately $31,000. Smartleaf Asset Management LLC increased its holdings in STMicroelectronics by 225.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,329 shares of the semiconductor producer’s stock worth $33,000 after purchasing an additional 921 shares during the period. Rakuten Securities Inc. lifted its holdings in shares of STMicroelectronics by 197.0% in the 4th quarter. Rakuten Securities Inc. now owns 1,779 shares of the semiconductor producer’s stock worth $44,000 after buying an additional 1,180 shares during the period. Finally, TD Private Client Wealth LLC grew its position in shares of STMicroelectronics by 108.3% during the 3rd quarter. TD Private Client Wealth LLC now owns 1,556 shares of the semiconductor producer’s stock worth $46,000 after buying an additional 809 shares in the last quarter. Institutional investors own 5.05% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on STM shares. Susquehanna decreased their price objective on STMicroelectronics from $33.00 to $28.00 and set a “positive” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of STMicroelectronics in a research report on Monday, December 9th. Jefferies Financial Group upgraded shares of STMicroelectronics from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. BNP Paribas initiated coverage on shares of STMicroelectronics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $28.00 price objective for the company. Finally, Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.26.

STMicroelectronics Stock Down 0.9 %

STMicroelectronics stock opened at $21.77 on Wednesday. The business has a fifty day moving average price of $24.41 and a 200-day moving average price of $25.79. STMicroelectronics has a 1-year low of $21.28 and a 1-year high of $45.39. The stock has a market capitalization of $19.55 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 1.16 and a beta of 1.56. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.11 and a quick ratio of 2.37.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, January 30th. The semiconductor producer reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. STMicroelectronics had a return on equity of 8.92% and a net margin of 11.74%. Equities research analysts forecast that STMicroelectronics will post 0.85 EPS for the current fiscal year.

STMicroelectronics Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.